Ben Eltham | Is There a Recession Brewing in Our Housing Bubble?

Ben Eltham warns that the next phase of the economic crisis could be a crash in Australian property prices in New Matilda.

“As I have remarked here many times before, Australian house prices are highly over-valued. In 2007, house prices in cities like Sydney and Perth briefly reached an astonishing nine times median incomes — among the most over-valued in the entire world.”